Real estate trends to look out for in Dubai for 2022

Dubai is a city of growth, and it's no wonder that this mega-city of skyscrapers and modernity is one of the fastest-growing cities in the world. There are many factors to take into consideration when investing in property in Dubai, but what trends will be most influential by 2022?

This article looks at key indicators to keep an eye on as you decide where to invest your hard-earned money. But before we dive into today's real estate trends in Dubai, let’s learn about the factors that have driven the real estate market.

High Quality of Life

For the 11th year in a row, Dubai topped Mercer’s Quality of Living Survey in the Middle East and Africa region. Apartments for sale in Dubai have hence been in Demand for years now. With its high quality of life, Dubai has continued attracting new residents and investors for years.

The city of Dubai is clean, safe, and modern, paired with world-class amenities and activities to keep residents happy and healthy. The sunny weather year-round makes the city a great place to live for people worldwide.

Technological Development

Dubai is a city that is always on the cutting edge of technology, and this is reflected in its real estate market. According to the Global Innovation Index, UAE has ranked in the top 40 for the past years. New projects in Dubai benefit vastly from these developments

A trend today to look out for in Dubai is the continued development of new technologies that will make buying, selling, and renting property more accessible and efficient.

Technology can save a lot of time and money, and it will only become more popular in the future. For example, virtual reality (VR) is used to view properties. It allows potential buyers to get a realistic view of the property without physically visiting the site.

Another trend to watch out for is the increasing use of artificial intelligence (AI) in real estate. AI can be used for things like identifying potential properties that meet your specific criteria, 

helping you to negotiate the best price, and even providing advice on which properties to invest in.

Overall, the real estate market in Dubai is fascinating, and top developers in Dubai are capitalising on these trends to stay updated and offer the most comfortable experience to their customers.

Safe Urban Environment

Dubai is a safe and secure place to live, with a low crime rate and a strong police presence. The city is also well-organised and clean, making it a pleasant place to live. To that extent, Numbeo ranked Dubai as the 7th safest city in 2020. Recent research by sureMyTrip ranked Dubai as the 3rd safest city worldwide for female travellers in 2022.

There are plenty of green spaces in Dubai, which helps to create a sense of calm in the city. Parks and gardens are well-maintained, with many walking and cycling trails. This makes it easy to get around without having to use a car.

The property developers in Dubai have made the city home to some of the best schools in the region. Education standards are high, and many international schools can choose from them. This makes Dubai an ideal place to raise a family as well.

No Income Tax

Entrepreneurs have eagerly invested heavily in the real estate of the city. As a result, the city continues to grow, and more and more high-end new projects in UAE are being built in Dubai. The luxury apartments and villas are adorning the residential skyline of Dubai and acting as the new address for young entrepreneurs.

A big draw for people looking to relocate to Dubai is that there are no personal or corporate income taxes meaning more money goes into their pockets. Dubai has attracted young talent to the city for years using its no income tax policy for years now. 

Now that we clearly understand the factors responsible for bringing Dubai to the forefront of the real estate market. Let’s take a look at the trends to look out for in the year 2022. 

Spacious Living to accommodate both work and family life

The average size of an apartment in Dubai is increasing as more people are looking for spacious living that can accommodate both work and family life. This trend is driven by the city's growing population and the need for more space to live and work.

Luxury apartments are becoming increasingly popular in Dubai as the city's economy grows. More people are able to afford luxury apartments, which offer amenities such as swimming pools, gyms, and concierge services.

Post-pandemic, the real estate market has seen an increased demand for spaces with home offices to accommodate work and family life easily. At the same time, the need for luxury amenity-rich living has given rise to high-rise residential complexes with ample floor space.

Focusing on the change in world trends, the best real estate developer in Dubai, Shapoorji Pallonji Dubai, has come out with a new project, the Imperial Avenue. Imperial Avenue is the modern-day home office focused on providing more significant-than-life living experiences through amenities like two infinity pools, a mini theatre, a squash room, and many more. A keen focus on designing a perfect child-centric home resulted in additions of an Indoor & Outdoor kids’ play area, kids swimming pool and games room.

Apartments in off-plan properties are the sought-after asset

Off-plan properties are becoming increasingly popular in Dubai as they offer buyers the chance to purchase a property before it is built. This means buyers can often get a better price for an off-plan property than they would for a comparable property already built.

Owing to the ease of access to urban infrastructure and proximity to choose homes near work locations. Apartments are the most popular type of off-plan property. In addition, compared to last January, the off-plan transaction value of Off-plan property has increased by 307.88%, according to the Khaleej Times. An upward trend at the start of the year is a crucial indicator for exponential growth year-round.

People are buying into houses to resell for a profit

A recent shift in the percentage growth of housing prices from 6% to 20% showcases a trend of homebuyers reselling properties to gain capital appreciation. According to a report, current property values are ⅕ higher than they were during the 2010 credit crisis.

A surge in the housing market paired with the consumer's desire to gain capital appreciation will see more real estate transactions happen year-round, with real estate property developers in Dubai already preparing for it.

Conclusion

As we can see, there are many different real estate trends to look out for in Dubai. Whether you're interested in purchasing a property or renting one, it's essential to be aware of the trends to make the best decision for your needs. With so many options available, it can be challenging to know where to start. Contact us today to get started! If you're unsure where to begin, our team of expert real estate agents would be happy to help you navigate the market and find the perfect property for your needs.